Nvidia(US:NVDA) Xin Lang Cai Jing·2025-11-15 09:54Group 1 - The US stock market experienced increased volatility this week, with a notable divergence between blue-chip and small-cap stocks. The reopening of the federal government alleviated systemic risks, but the data gap caused by the shutdown has added uncertainty to the macroeconomic outlook. Hawkish comments from Federal Reserve officials have dampened expectations for a rate cut in December, leading to a decline in market momentum and weakening internal structure [1][2] - The healthcare sector performed well this week, with gains of approximately 4%-5%. Recent improvements in policy, such as reduced pressure on drug pricing negotiations and enhanced regulatory transparency, have reignited market interest in the healthcare sector. The healthcare industry is characterized by defensive attributes, maintaining demand even during economic downturns, while also showing upward elasticity during economic recoveries. As funds rotate, the long-underestimated healthcare sector has gained favor due to dual support from policy and demand [1] Group 2 - AI-related stocks continue to attract market attention. Cisco reported strong earnings and optimistic forward guidance, highlighting a rapid increase in demand for AI infrastructure and enterprise network upgrades, which significantly improved orders. Foxconn anticipates sustained AI demand until 2026, and AMD has raised its operating margin targets for the next three to five years, with earnings outlooks exceeding Wall Street consensus, further bolstering confidence in the industry's prospects [2] - Technically, the US stock market showed signs of weakening upward momentum this week. Although the three major indices held above the critical 50-day moving average, they all fell below the 20-day moving average, indicating a phase of consolidation or short-term correction. Market breadth weakened, with the ratio of new highs to new lows approaching low levels, and the number of stocks above the 20, 50, and 200-day moving averages also decreased. Increased volatility is a significant characteristic, indicating heightened market uncertainty and a waning willingness to chase prices [2] Group 3 - Next week, the market will focus on Nvidia's earnings report to assess whether the AI theme is overheating. Investors will also pay attention to the performance of retail giants such as Walmart, Target, and Home Depot to gauge consumer trends. On the macroeconomic front, the market is looking forward to the release of important official economic data, including the S&P manufacturing and services indices, as well as the ADP weekly employment report. Additionally, the Federal Reserve's November meeting minutes will be a focal point for the market [3]